Indexed annuity sales grow among wirehouses, independent broker-dealers
September 25, 2018 by Greg Iacurci
Wirehouses and independent broker-dealers have upped their sales of indexed annuities over the past few years, with a greater share of product sales coming through registered representatives at brokerage firms.
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Independent broker-dealers sold $2.6 billion of indexed annuities in the second quarter this year, accounting for 15.25% of total product sales, according to Wink Inc., a market research firm. That’s up from $1.5 billion, a 12.23% share, in the second quarter of 2015.
Meanwhile, full-service national broker-dealers — including wirehouses and large regional B-Ds — sold $1 billion in Q2, making up 5.83% of total sales, according to Wink. That’s up from $287 million, a 2.34% share, three years earlier.